Chat 2 Exercises final - E2-6A Transaction Entries Creative Designs a firm providing art services for advertisers began business on June 1 The foll Cash

Chat 2 Exercises final - E2-6A Transaction Entries Creative...

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E2-6A. Transaction Entries Creative Designs, a firm providing art services for advertisers, began business on Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Com Use journal entries to record the following transactions for June in the general jo June 1 Lisa Ryan invested $12,000 cash to begin the business; she received comm 2 Paid rent for June, $950. 3 Purchased office equipment on account, $6,400. 6 Purchased art materials and other supplies costing $3,800; paid $1,800 down w 11 Billed clients for services, $4,700. 17 Collected $3,250 from clients on account. 19 Paid $3,000 on account to office equipment company (see June 3 transaction) 25 Lisa Ryan received a $2,000 dividend. 30 Paid utility bill for June, $350. Date Description Debit Credit june 1 cash 12000 common stock 12000 to record common stock 2 rent 950 cash 950 to record rent expense 3 equipment 6400 accounts payable 6400 torecord purchase of equipment 6 supplies 3800 cash 1800 accounts payable 2000 to record supplies 11 accounts recveivable 4700 service revenue 4700 to record revenue 17 cash 3250 accounts recveivable 3250 to record cash received 19 accounts payable 3000 cash 3000 to record payment for equipment 30 Paid salaries for June, $2,500 .
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25 dividend 2000 cash 2000 To record receipt of dividend 30 utilities 350 cash 350 to record payment of utilty bill 30 salaries and wages 2500 cash 2500 to record salary
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n June 1. The following accounts in its general ledger are needed to record the transacti mmon Stock;Dividends; Service Fees Earned; Rent Expense; Utilities Expense; and Sal ournal: mon stock for her investment. with the remainder due within 30 days. ).
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ions forJune: laries Expense.
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E2-6A. Transaction Entries Creative Designs, a firm providing art services for advertisers, began business on June 1. The following accounts in its gen Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Common Stock;Dividends; Service Fees Earn Use journal entries to record the following transactions for June in the general journal: June 1 Lisa Ryan invested $12,000 cash to begin the business; she received common stock for her investment.
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